We have debt. Debt can cause stress. Debt is awful. Not the kind that lets you live in a house or drive a car. The kind that comes from spending money on junk you didn’t need, because you thought it would make you happy at that moment … and NEWSFLASH … it didn’t.
Around 2 years ago, we started a way to save money to pay down debt … and we don’t even miss it.
First of all … you have to be disciplined enough to keep a checkbook. If you are the kind of person who has no clue how much money is in your checking account or you just use your debit card until it rejects, this probably won’t work for you … unless you are willing to change. If that’s the case, go get yourself a check register and start keeping track of the transactions in your account.
Here’s the fun part … we’ve used this method to pay down over $3,000 in credit card debt.
and it’s so simple
when you use your debit card, you simply round up the amount to the nearest dollar AND add a dollar (you could even add $2 or $3 if you want to save even faster) … that’s the amount you put in your check register
For example … D went to the lumber store (Sutherlands) and bought something I’m sure he couldn’t live without for $32.69 … we rounded up to $33.00 and we added a dollar to get $34 … so our checkbook thinks we spent $34.00 (and the difference just sits in our checking account)
Right now we have a “cushion” of saved money of around $1,500. When it gets up to $2,000, we will pull $1,000 out of the account and use it to pay on a credit card. We just keep going until they are all paid.
Each month you will know how much your “cushion” is when you reconcile your bank statement to your register.
Ta-Da !!! Sneaky Savings we don’t even miss.
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